Tips To Save Money On Car Insurance As A Senior
As a senior citizen, you probably do what you can to save money in order to maintain your retirement nest egg or to stretch your social security check a little bit further. One bill that you have to pay every month is, of course, your car insurance, but you don't have to let that payment drain your bank account if you're smart. Here are some tips to help you save money on your car insurance as a senior citizen.
Sign Up for a Class Designed for Seniors
This will vary by state, but in many states, it's possible to take a senior driving class. You'll be educated on safe driving practices and informed of how the aging process can affect your driving. It's true that many insurance companies offer a discount for seniors 65 and older anyway, but in some cases (or some states) you may be required to take a driving class before the discount is applied. Contact your insurance provider and they may be able to furnish a list of driving classes near you.
Drop Coverage You Don't Need
Do you have a well-running car that has been paid off for a while? Do you no longer use a vehicle for your daily commute because you sit at home most days? If the car is not particularly valuable or is getting up there in years, it might not be necessary to maintain full coverage across the board. Talk to your insurance provider about dropping down to whatever the minimum requirements are for your state. Keep in mind that this does leave you exposed if you do get into an accident, but if you really aren't driving the car much, the odds might be in your favor. And actually, sometimes just letting your insurer know that you are retired and no longer use the car as a daily driver could bring your premium down.
Consider a Bundle
As a senior, you likely own a house by this point in your life and you will, of course, have home insurance to worry about as well. If your home insurance and your car insurance are with two different companies, see if it's possible to get both policies from one company. Bundling insurance policies like this is a great way to earn an additional discount.
As a senior citizen, you need to make every penny count. Bring your car insurance premium down by taking a driving class, raising your deductible, or dropping coverage you no longer need.